Wegelin & Co., the 270-year-old Swiss bank facing criminal charges in a US crackdown on firms suspected of aiding tax evasion, failed to appear at a court hearing as prosecutors called the bank a “fugitive.”

Prosecutors said after the hearing yesterday in Manhattan federal court that three Wegelin client managers charged in the case also failed to appear and were considered fugitives.

When no defendants or defense attorneys showed up in court, US District Judge Jed Rakoff asked prosecutors for a proposal on how to proceed. Prosecutors said they will confer with the Justice Department and advise Rakoff on their proposals.

“Unlike an individual, arresting a company is somewhat difficult,” Rakoff said.

Wegelin said in a statement after the hearing that it didn’t appear because “the legal prerequisites to initiating criminal proceedings under US law have not been met.”

According to the statement, the case can’t begin until the defendant has been served with a summons. Because Wegelin hasn’t been properly served, the bank said, it wasn’t required to appear and proceedings may not begin.

“The circumstances create a clear dilemma for Wegelin & Co: If it were to adhere to current US legal practice aimed at Swiss banks, it would have to breach Swiss law,” the bank said. “The bank will, as it has done until now, make every effort to resolve this matter within the boundaries of respectful cooperation with the US and obedience to Swiss law.”

Wegelin is the first overseas bank to be indicted by the US for aiding tax fraud, federal prosecutors in New York said this month. The three Wegelin client managers at the Zurich branch were also indicted.